1. inventory handled by the idea that they are sold in the same order they are bought. The first things bought are the first sold. It has a high value in high inflation rates causing lower cost goods to be sold at a higher price. 2. the idea that the first
Link to This DefinitionDid you find this definition of FIRST-IN, FIRST-OUT (FIFO) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary